Search Results

For a business owner considering the sale of their business, there are two competing goals: maximizing the proceeds from the sale and minimizing the transfer taxes that will be due on the owner’s enhanced estate. With additional insights, Warner Partner Beth O’Laughlin discusses possible ways to accomplish both of these goals through gift and estat...

Irrevocable trusts are a great way to minimize estate taxes and keep more of your wealth in the family, but they require you to permanently give up ownership and control of the assets you place in them. For people who are hesitant about the irrevocable aspect of the trust, there is the spousal lifetime access trusts, or SLAT, that can be an excelle...

In moving past the “shirtsleeves to shirtsleeves in three generations” adage, advisors in the family wealth space are emphasizing the importance of the family’s qualitative capitals that go beyond serving only the financial capital goals. This shift has elevated the family client experience and expectations. It’s part of the Wealth 3.0 movement tha...

It may seem that there will always be time to address estate planning. However, a unique opportunity to maximize the amount of wealth that can be tax-efficiently passed to heirs will expire at the end of 2025. Furthermore, legislation could curb lifetime exemption limits even sooner. The opportunity is even more pressing because the current market ...

The SECURE 2.0 Act of 2022, signed into law by President Joe Biden on December 29, 2022, makes significant changes to the administration and taxation of retirement plans. It addresses many practical concerns that surfaced after the passage of the original SECURE Act in 2019 and during the pandemic. Some of the key changes, including the rules for s...

U.S. tax and information reporting obligations have become an increasing concern for international families and their succession planning structures. Missed or late filings can result in steep penalties, even when no tax is due. The Foreign Account Tax Compliance Act (FATCA) is alerting the Internal Revenue Service (IRS) to income and accounts held...

No matter your role – whether you’re a family business leader, family office executive, family member – how are you preparing your family for significant wealth transfer or liquidation events? Said differently, how can you make inheriting wealth less like being hit by a comet?

At our Family Office Exchange (FOX) Rising Gen Leadership Programs held in February and June, we noticed developing themes from our next-generation attendees. It became clear their needs and concerns were coalescing around three emergent areas. In this article we’re presenting a simple engagement pipleline to guide families and rising gen on their ...

In The Time is NOW for your Rising Gen, FOX Chief Learning Officer, Mindy Kalinowski Earley, cautions families on waiting too long to involve their future family leaders. Outlaying personal quotes from members of the rising generation and relaying best practice first steps, Early argues that when starting family learning and leadership skills…there...

Preparing the rising generation for leadership can feel daunting at the beginning. It takes courage and vision to get things started. Along with understanding five key things in your preparation, advance incrementally and look for ways to use education to get family members excited about the future of the rising gen and their leadership positions i...

This research brief uses direct feedback from members of the rising gen to identify their top concerns and shed new insights into the important goals they have with their family. With the data and recommendations gathered, you can learn more about the group—including the challenges and pressures they face—to create a roadmap that leads to productiv...

As follow-up to the 2023 FOX Rising Gen Research Study, a panel of rising generation leaders shared their personal stories of challenges and successes and gave advice to their rising gen peers. Amplifying the voices of future family leaders encourages positive change and multigenerational discussions. ...

In this 10-minute interview, attorney Jordan Bergmann of Foley & Lardner joins Brian Lucareli to discuss qualified business stock (QSBS). During the interview, Jordan defined QSBS and the tax benefits they provide and how family offices can take advantage of the QSBS as part of their wealth management and tax planning strategy.

Discover different learning approaches taken by three families who partnered with a FOX consultant to develop their human capital, engage the next generation, and create a culture of learning at an early age. These three vignettes exemplify best practices and trends in family education, including the formalization of family learning.

The issue of concentrated low-basis holdings is a challenge that has vexed wealth managers and their clients for decades. Put simply, if a large majority of your wealth is concentrated in a single position, should you sell some of it and move the proceeds to a more diversified portfolio of investments? However, the sale position oftentimes carries ...